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System and method for using multiple balances with a single payment device

a payment device and multiple balance technology, applied in the field of multi-account balance management in the transaction system, can solve the problems of additional challenges, added risks, and inability to provide the risk management services provided by the main transaction system

Inactive Publication Date: 2017-06-22
MASTERCARD INT INC
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

The patent describes a method and device for transacting with a payment device using multiple balances. The method involves creating, debiting, and updating multiple balances on the payment device, which can relate to different value types. The device can also receive instructions on how to modify the balances, which can be generated in advance and securely delivered to the device. The method can be implemented using EMV specifications. The technical effect of this patent is to provide a more efficient and flexible way of using multiple balances on a payment device for transactions.

Problems solved by technology

Such transactions have additional challenges, such as added risk as the risk management services provided by the main transaction system are not available.

Method used

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  • System and method for using multiple balances with a single payment device
  • System and method for using multiple balances with a single payment device
  • System and method for using multiple balances with a single payment device

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Embodiment Construction

[0029]Specific embodiments of the disclosure will be described below with reference to the Figures. The embodiments described below relate to a payment card used as a transaction device for payments with POI (point of interaction) terminals (such as a POS—point of sale—terminal) under the EMV protocols indicated above. As is discussed further below, further embodiments may be used in other transaction systems and contexts. For example, other types of payment devices may be used, such as mobile devices or any device capable of establishing an interaction with a terminal in order to complete a transaction.

[0030]FIG. 1 shows schematically relevant elements of a payment infrastructure in which embodiments of the disclosure may be used.

[0031]A user (not shown) is provided with a payment device in the form of a payment card 2 (as discussed above, in other embodiments other transaction devices may be used). The payment card 2 comprises a chip 4 with a processor and a memory. The chip 4 is ...

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PUM

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Abstract

A transaction system for performing transactions with multiple balances within a single transaction. The transaction system comprises a payment device programmed to record multiple balances and a terminal programmed to interact with the payment device in order to complete a transaction by debiting multiple balances of the payment device within a single transaction. A method of transacting with a transaction device, a payment device and a method of providing commodities to a payment device user are also provided.

Description

CROSS-REFERENCE TO RELATED APPLICATION[0001]This application is a U.S. National Stage filing under 35 U.S.C. §119, based on and claiming benefit of and priority to EP Patent Application No. 15201410.6 filed Dec. 18, 2015.FIELD OF DISCLOSURE[0002]The present disclosure relates to methods and apparatus for managing multiple account balances in transaction systems. Embodiments of the present disclosure are particularly appropriate for use where multiple balances are advantageously managed on a single device, in particular where elements of a transaction system are only intermittently in contact with each other.BACKGROUND OF DISCLOSURE[0003]EMV is a financial transaction system based around the use of payment devices contact and contactless transaction cards. In the EMV payment model, an issuing bank provides an account holding customer with a smart card (or other token) to use when making payments. An acquiring bank provides a merchant with a compatible terminal device to use when acce...

Claims

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Application Information

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IPC IPC(8): G06Q20/22G06Q40/02G06Q20/10
CPCG06Q20/227G06Q40/02G06Q20/102G06Q20/3433G06Q20/349G06Q20/3552G06Q20/3572
Inventor ROBERTSHUANG, DONGHAOLI, JIAMINGJOYSON, BENSAMTANG, HAOCHIN, YONG WEI
Owner MASTERCARD INT INC
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